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‘Lucrative prospects’: ArawakX refutes $2.4m insolvency woes

The Bahamas’ first-ever crowd-funding platform is asserting it has “lucrative prospects” rather than a $2.4m solvency deficiency as it bids to defeat the Securities Commission’s bid to wind-up its operations.

Corporate income tax for Bahamas ‘mammoth task’

A leading Bermuda accountant yesterday warned The Bahamas that implementing a corporate income tax regime is a “mammoth task” that should not be underestimated.

STATESIDE: While Biden tries to appear as ‘labour’s best friend’ Trump seems to lose favour

ONE year from this morning, we’ll know who the Democratic and Republican party nominees are in a presidential election contest that will then only be six weeks away. And we’ll know if a third-party candidate or candidates have emerged to challenge America’s deeply entrenched two-party political duopoly.

PHA confirms 145 infections of dengue fever with six hospitalised

PUBLIC Hospitals Authority Managing Director Aubynette Rolle said six people are hospitalised with dengue fever.

PETER YOUNG: This year’s UN General Assembly reveals increasingly multi-polar world

IN previous columns I have drawn attention to the gradual increase of world summit meetings in recent years. But there is, of course, nothing to compare with the UN General Assembly (UNGA) which is the important gathering in New York of its 193 nations annually in September. It claims to provide a unique forum for multilateral discussion of the full spectrum of international issues covered by the Charter of the United Nations, though there are also opportunities for bilateral meetings between individual countries.

Opposition alarm on S&P’s three times’ higher deficit

The Opposition’s finance spokesman yesterday voiced alarm over Standard & Poor’s (S&P) prediction that the fiscal deficit for the 2023-2024 Budget year will come in more than three times’ higher than the Government’s forecast at $466m.

Bahamian battles FTX chief on $28m aircraft

A BAHAMIAN aviation entrepreneur yesterday launched legal action against FTX’s US chief to safeguard his ownership interest in two aircraft valued at a combined $28m

S&P: Austerity ‘likely’ to meet Gov’t debt targets

Standard & Poor’s (S&P) last night argued that the Government will likely struggle to meet its debt reduction targets “without material new revenues, significant cost-cutting or well above average economic growth”.

Team Bahamas falls 6-1 to Grenada in CONCACAF ‘Road to Gold Cup’ opener

THE Bahamas’ senior women’s national football team went down 6-1 to Grenada in game one of the Confederation of North, Central American and Caribbean Association Football (CONCACAF) Women’s Road to Gold Cup.

$657k ‘pipeline’ blockage kept ArawakX insolvent

The Bahamas’ first-ever crowd-funding platform was branded “no longer solvent at February 2023” by external auditors who warned that $656,500 in “pipeline” revenue could not be used to restore a “net equity” position.

Act like a developed country

The World Bank classifies The Bahamas as a “high income, developed country”, while the International Monetary Fund places our nominal wealth per capita as slightly higher than that of Japan. We have, in our independent history, never been a “middle income” country or even close.

Crowd-funder: From $4m to $200m in 14 months

The Bahamas’ first-ever crowd-funding platform purportedly increased in value from just $4.38m to an astonishing $201.75m in just 14 months, it was alleged yesterday, despite accounts revealing a $2.659m “deficit” at end-July 2022.

‘Instant payback’: Doctors in revenue doubling to $120m

Doctors Hospital yesterday predicted it will “double” total pre-COVID revenues to around $120m during its current financial year after enjoying “instant payback” on $6.6m in healthcare investments.

Bahamas First blames 50% of $4.3m loss on new rules

Bahamas First’s top executive has blamed more than 50 percent of the group’s $4.3m comprehensive loss for the 2023 first half on a major change to insurance industry accounting standards.

Bahamian Jevone Barrett joins NBA’s Future Basketball Operations Stars Programme

Bahamian Jevone Barrett has been selected to join the National Basketball Association’s (NBA) Future Basketball Operations Stars (FBOS) Programme for the next six months.

Insolvent contractor’s staff recover just 10%

The Government and former workers are set to receive just over 10 percent of what they are owed by a Cavalier Construction affiliate, its liquidators have revealed.

Gov’t revenue goal ‘very close’ despite VAT miss

The Government’s top finance official yesterday forecast that it will “come very close” to achieving its total revenue and tax forecasts for the 2022-2023 fiscal year even though VAT could potentially under-shoot by up to $160m.

Cable targeting ‘monumental improvement’ via Aliv refinance

Cable Bahamas’ top executive yesterday asserted the group is poised for “monumental improvement” in profits if it can reach agreement with the Government on refinancing Aliv’s debt at lower interest costs.

THE BAHAMAS BEATEN DESPITE QUICK START: Puerto Rico win 6-1 in Nations League opener

AFTER getting off to an “electric start” from a quick shot from Christopher Rahming to ignite the home crowd inside the Thomas A. Robinson National Stadium, the Bahamas men’s team could not stop the relentless onslaught from Puerto Rico as they responded with a flurry of goals.

Brookfield exploring $2.5bn Atlantis sale

Brookfield Asset Management is looking to offload the Atlantis Paradise Island Resort - with a price tag of $2.5bn attached.

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